14 Best Undervalued Stocks to Buy Under $50

6. Novo Nordisk A/S (NYSE:NVO)

Stock Price: ​$46.51

Forward P/E: 13.15

Number of Hedge Fund Holders: 45

Novo Nordisk A/S (NYSE:NVO) is one of the best undervalued stocks to buy under $50. Bernstein analyst Florent Cespedes reiterated his bullish outlook on Novo Nordisk A/S (NYSE:NVO) on November 4 and set a price target of DKK540.

The same day, Novo Nordisk A/S (NYSE:NVO) announced that it submitted an updated unsolicited proposal for the acquisition of Metsera, Inc, including its early and development-stage incretin and non-incretin analogue peptide programmes.

Management reported that the updated unsolicited proposal was declared “superior” by the board of directors of Matsera, and that the acquisition would provide Novo Nordisk A/S (NYSE:NVO) with the “opportunity to maximise the potential of Metsera’s complementary portfolio and capabilities”.

Novo Nordisk A/S (NYSE:NVO) is a global healthcare company specializing in diabetes care. It develops, discovers, manufactures, and markets pharmaceutical products. Its operations are divided into two business segments: biopharmaceuticals and diabetes and obesity care. The latter segment covers GLP-1, insulin, and other protein-related products.